Strategy's Market Cap Explodes 80% in 3 Months
Strategy's market capitalization soared an impressive 80% in just three months, with its Class A share price rising by about 54% over the same period. The company's market value increased from $39.3 billion on June 22 to $70.9 billion on September 21.
The growth can be attributed in part to Strategy's at-the-market (ATM) sales, where the company sold new shares worth approximately $6.3 billion through its ATM program. This sale of roughly 61.5 million new Class A shares added a significant portion to the overall market capitalization.
Interestingly, CEO Phong Le drew attention with a metaphor that compared STRC (the preferred stock) to a passenger jet, BTC to a fighter jet, and MSTR to a rocket ship. While Bitcoin's price reached an intraday high of $87,395 on September 21, Strategy's own share price closed at $168.50.
The company has been actively rebuilding its bitcoin hoard, acquiring 950 BTC for $75.7 million and repurchasing STRC shares. As of the latest filing, Strategy holds 846,000 BTC acquired for an average of $75,416 per coin.